Chapter 6 Marketing by the Numbers

The potential market represents all active duty military​ members, all​ veterans, and their families. Assume that according to the United States Department of​ Defense, as of December​ 31, 2014 there were 1,361,327
active duty personnel in all armed services. The veteran population totaled 21 million at the end of 2014. Assuming the average cost of life insurance is ​$750
per year and that potential customers purchase one policy per​ year, use the chain ratio method to calculate the market potential for life insurance in the military market.

The number of buyers in the market can be estimated as (Round to the nearest whole​ number.)